DEWA receives 4 bids for Hassyan 1 IPP Project

Dubai Electricity and Water Authority (DEWA) announced that it has received four bids from international consortia to construct the Hassyan 1 Power Project with the capacity of 1,600 MW.

The bids were opened for constructing and operating the Hassyan 1 Independent Power Plant (IPP).

The first consortium is led by Taqa, Marubeni Corporation, SK E&S Co. Ltd. The second consortium is led by GS Engineering & Construction Corp. The International Company for Power & Water Projects, KEPCO, and Samsung C&T comprised the third consortium and the fourth consortium comprises QEWC, QPI, and Siemens Project Ventures.

The selected bidder will own 49 per cent of the project, whereas DEWA retain 51 per cent.

“We expect to conclude the assessment of these four bids by February 2012, after which the winner will be announced. Experts from DEWA, in collaboration with the advisory consortium led by HSBC, will study the technical, financial and commercial studies and environmental impact report to assess the bids accordingly,” His Excellency said.

DEWA invited 18 bidders, who were selected to participate in the Hassyan 1 IPP. The selection process was based on examining the qualification documents received from 20 bidders in response to the qualification tender request issued by DEWA and its advisors. At the beginning, there were 27 bidders, which were willing to participate in the project in March 2011.

“This important step creates investment fields that can encourage the participation of the private sector in strategic projects to attract further investment and the latest technologies. This will provide for the future energy needs of Dubai, and takes into consideration all the procedures that can conserve and protect the environment,” added His Excellency.